Business
Launch of European Showroom in Paris
Launch of European Showroom in Paris.
About this update from Ultimate Products Plc
[{"type":"text","content":"\n\n\n25 September 2023\nUP Global Sourcing Holdings plc\n\"Ultimate Products\" or \"the Group\"\nLAUNCH OF EUROPEAN SHOWROOM IN PARIS\nUltimate Products, the owner of a number of leading homeware brands including Salter (the UK's oldest houseware brand, est.1760) and Beldray (est.1872), is pleased to announce that it has opened a new European showroom in Paris. A launch event was held on Thursday 21 September, where the ribbon was cut by retail tycoon Theo Paphitis and Hajir Hajji, the CEO of Action, Europe's fastest growing non-food discount retailer.\nThe new showroom is spread across a 16,500 sq. ft space at the Homexpo Paris showroom complex, where the anchor tenant is JJA, one of France's largest home furnishing suppliers. The site, which is near Charles de Gaulle airport, is ideally located for hosting both existing and prospective customers across France and Europe.\nTo support the showroom's activities, Ultimate Products has appointed a new sales team in Paris, who join the Group's other international sales teams in Germany and Poland. Previously, the Group operated a Cologne showroom, which was hugely successful in achieving traction and growth in Germany, a market that today represents approximately 30% of the Group's European sales. The Group's aim is to achieve a similar level of penetration within the French market.\nUltimate Products currently derives approximately 30% of its revenues from European countries (population: c.477 million), where it has a much lower penetration than the UK (population: c.67 million). The Group sells £1.72 of product per capita in the UK and around 80% of British households own at least one of the Group's products.\nSimon Showman, Chief Executive of Ultimate Products, commented:\n\"I am massively excited to have opened a European showroom in Paris, which I am confident will help us grow our presence in the sizable French market. Our products are already present in most UK households, and I firmly believe that they will be just as attractive to retail partners and consumers in France, as well as the wider European market more generally. I would like to extend a warm welcome to our new team in Paris, who will be invaluable in helping us to achieve our ambitious growth plans.\"\n \n \nFor more information, please contact:\n \nUltimate Products +44 (0) 161 627 1400\nSimon Sh...